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Comparative changes – Associations Incorporation Act 2015 (WA)

28 Jun 2016

Comparative changes – Associations Incorporation Act 2015 (WA)

With the new Associations Incorporation Act, the West Australian government aims to promote greater efficiency and accountability, align the act with legislation in other Australian jurisdictions (e.g. the Corporations Act) and minimise compliance and administrative costs for incorporated associations. The Act will take effect on 1 July 2016, with a three-year transition period.

1987 (WA) Act

2015 (WA) Act

Financial Reporting Requirements

Rules applied to all associations no matter their revenue or size. Associations must:

Keep true and accurate accounting records

Submit accounts at each AGM showing the financial position

No lodgement or audit requirements unless requested by Commissioner or members

All associations must give a ‘true and fair view’ of financial position and present financial statements at the AGM. Also required to lodge a basic annual statement with the Commissioner. Tiered structure is based on revenue in the relevant financial year:

Tier 2 revenue: Financial report must be reviewed, and may have audit requested

Tier 3 revenue: Financial report must be audited

Model rules: Constitution

The rules should include all matters in Schedule 1 of the Act. Associations can create their own rules or adopt the model rules.

Distribution of surplus property to be decided by resolution of the members if no rule made. Distribution plan must be lodged with the Commissioner

Imposes additional requirements:

Details when membership commences/stops

Must include grievance procedures for disputes

Must detail how surplus property is dealt with

Provision for keeping records of the proceedings at committee meetings

Circumstances (if any) must be stated where payment from the associations funds is made to the committee members

Model rules apply unless Constitution is changed before 1 July 2019

Duties

Committee is those persons who ‘have the power to manage the affairs of the association’.Duties of committee members:

Ensure compliance with the Associations Act

Disclose pecuniary interests

Other duties imposed by common law

Committee officers are defined as including members of the management committee (and those who they instruct), persons including employees whose decisions affect a substantial part of the operations, and any person whose capacity can significantly affect the associations financial standing

The Act also imposes duties that include the common law duties (refer to Part 4 of the Act)

Committee officers must disclose ‘material personal interests’

Other

AGM needs to be four months after financial year end

AGM needs to be six months after financial year end. Scope includes wider range of eligible organisations and allows for trading (with conditions)